BAGI says single-family home permits continue to rise
The Builders Association of Greater Indianapolis says single-family building permits increased by 13 percent in September. The organization says 501 permits were issued in the nine-county region last month, up from 442 during the same month last year.
Seven of the nine counties saw increases in permits in September with Madison and Morgan counties leading the way at 209 percent and 50 percent, respectively. Hendricks County was the only one to see a decrease in building permits, while Hamilton County remained flat in September.
Year-to-date, the number of permits issued throughout the region has increased 18 percent over the same period in 2017.
Despite the positive permit numbers, the BAGI says "recent construction trends won't meet the demand for a projected 9,000 new housing units annually." The organization cites a recent market study which says the Indianapolis region is under-building each year by 1,750 units.
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